The Chubb Corporation's Board of Directors announced that John Finnegan, Chubb's chairman, president and CEO, will retain his current roles until the end of 2016. Any tension over this decision was derived from the fact that Finnegan turns 65 at the end of 2014, which is when the company’s policy says executives should retire.
"The Board's decision was based on its high level of satisfaction with Chubb's overall performance since John Finnegan became CEO in December 2002," said James Zimmerman, Chubb's lead director. "Under John's leadership, the company has achieved consistently strong operating earnings notwithstanding unusually high catastrophe losses and, in more recent years, unprecedented low interest rates.
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